Sitemaps

Questions

Small Business

What kind of taxes do I need to pay for an LLC service company that provides cleaning services in NYC?

Is there sales tax per job? How can I determine how much I will need to pay in city/state/federal income taxes at the end of the year?

Answer This Question

3

Answers

Kelly Fallis

CEO at RSMuskoka.com

Answered almost 12 years ago

JoAnn Fleming

Owner at Fleming & Associates CPA, PC

The income tax you pay will be based upon the net profits of your business. The profit or loss will be taxed on your personal tax return. In addition to income tax, you will be subject to self-employment taxes.
Depending on the amount of tax that you will be have to pay, you may be subject to paying estimated taxes on a quarterly basis during the tax year, rather than just paying 100% of your taxes when you file your income tax return on April 15.

Answered almost 12 years ago